The current state of copper: Too soon for surplus?

In a note out late last week, French bank, Natixis, queries the assumption that the copper market is already in surplus. While it doesn’t dispute that the copper market could move into surplus over the next few years, the bank maintains that saying it is already in surplus could be premature.
The reason for the dispute is the level of stocking or destocking in China that has taken place over the last few months - an issue that caused problems for copper price predictions previously………………………………………..Full Article: Source